... statement measures profitability Topic: Income statement 64 Candy Company had sales of $320,000 and cost of goods sold of $112,000 What is the gross profit margin (ratio of gross profit to sales)? ... Density Farms Inc had sales of $750,000, cost of goods sold of $200,000, selling and administrative expense of $70,000, and operating profit of $150,000 What was the value of depreciation expense? ... statement of cash flows indicates changes in the cash position of the firm Topic: Statement of cash flows 91 Which of the following is an outflow of cash? A B C D Profitable operations The sale of equipment...